USDJPY from ThinkMarkets — TradingView

USD/JPY is trading above the support areas of 156.445 and 155.533 after a limited rebound, while the moving averages and RSI indicators point to continued selling pressure, making a break above this area an important factor for a possible decline towards 153.993.

Here are details on the current state of the technology:
After the recent positive rebound above 155.533, USD/JPY is currently operating in the area above 156.445.

Moving Average: Price is currently below the moving average, which indicates that the negative outlook so far continues.

Relative Strength Index (RSI): This indicator is falling below the 50 level, indicating that the supply side is also dominant so far.

Here are the expected scenarios for the upcoming campaign:

Bearish scenario
• A break and hold below the 156.445 – 155.533 zone could open the way for a test of lower levels near 153.993.

alternative
• Failure of the price to break above the 155.533 level and consolidate above it may lead to continued sideways trading, pending new economic signals.

Monitoring level (critical level)
• Resistance levels: 157.413 – 157.648
• Support: 156.445 – 155.533
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